MagnaInternational


Porsche cancels Boxster/Cayman production contract, Magna wants cash

Shortly after the Boxster debuted in 1996, Porsche contracted with Valmet Automotive of Finland as a second production source for the sports car, and a few years later, employed the facili along with the Cayman coupe. In 2008 Porsche decided that it would shift that production contract from Valmet to Magna International and its assembly plant in Graz Austria. Today, with Porsche being subsumed into the Volkswagen Group, the sports car maker has decided to cancel the Magna deal. With Volkswagen now buying up the remains of Karmann, the ... Read more →

Porsche to pull Boxster production from Magna over Opel stake? Jonathon Ramsey

After a great deal of international haggling, Magna ended up winning the competition for Opel. One of the many questions to be answered now is: How will the deal affect Magna's engineering and ...

BREAKING: GM board recommends coughing up 55% Opel stake to Magna, Sberbank Jeremy Korzeniewski

Finally, after what seems like an eternity of protracted negotiations, bickering and stalling tactics, General Motors has agreed to sell a majority stake in its European operations to Magna ...

Opel fate still up in the air as Russian involvement reportedly complicates Magna offer Sam Abuelsamid

Over on General Motors' Europe "Driving Conversations" blog, VP John Smith has posted an update on the company's negotiations to sell a majority stake in Opel and Vauxhall. Although no final decision ...

German economics minister reportedly says no to Opel buy-back option for GM Sam Abuelsamid

One of the many clauses that General Motors is reportedly trying negotiate into any deal involving majority control of Opel is the option to eventually buy back the stake it is selling. As the ...

Opel stake could give Russian automaker an injection of "know-how" 5 months ago on Autoblog

If you tried telling us even as recently as a year ago that General Motors would be forced to sell its European assets and that a partnership between a Canadian parts supplier and a Russian bank would step up to take the stake, we'd have probably raised a few eyebrows. But such is the state of the ...

German government approves majority sale of Opel to Magna, Russians 6 months ago on Autoblog

With General Motors expected to file for chapter 11 bankruptcy protection in New York on Monday morning, negotiators in Germany scrambled to finalize a deal to save Opel from insolvency. Following a six-hour meeting in the German Chancellor's office in Berlin on Friday evening, a deal was finally ...

BREAKING: BBC says Magna has agreed to take majority stake in Opel from GM 6 months ago on Autoblog

According to the BBC News, supplier Magna International has come to terms with General Motors to purchase a majority stake in its European Opel division. While an agreement has been reached between the two parties, the German government – which has agreed to provide financial assistance for ...

REPORT: Magna eyeing Saturn 6 months ago on Autoblog

Magna tried and lost when Chrysler was for sale. Pulling a Marchionne, Magna's now trying to win GM Europe's Opel division for itself, and rumor is that Saturn is also on the shopping list. GM would get much-needed capital for the transactions, but it could also be facing its old properties as new ...

Henderson: Buyer for Opel picked by end of month 6 months ago on Autoblog

The Opel brand may be churning out some solid-looking products of late, but the European brand isn't long for the GM world. That isn't news, but the fact that a buyer will be chosen before the end of May is. GM CEO Fritz Henderson promised the quick turnaround of Opel during a Monday news ...

Marchionne to Germans: If you have a better offer for Opel, take it 6 months ago on Autoblog

Fiat's bid for worldwide domination of the automotive industry has seen a bit of a snag in Germany, where government officials are said to be balking at the Italian automaker's plan to take over GM's struggling Opel brand. Fiat CEO Sergio Marchionne sounds confident that his plan is the best way ...

Fiat and Magna emerge as serious bidders for Opel 7 months ago on Autoblog

General Motors is looking for outside investment into German automaker Opel, and new reports coming out of Europe indicate that two main bidders have separated from the rest of the pack: Fiat, which we've already heard about, and Magna International. Oleg Deripaska, a familiar name to those who ...

Geneva Preview: Magna Steyr unveils flexible Mila EV concept 9 months ago on Autoblog

Amongst all of the various concept and production-ready vehicles that major automakers will unveil this week at the Geneva Motor Show is a new concept from auto supplier Magna Steyr called the mila ev. This electric machine was designed from the start to eschew the carbon-spewing, ...

BMW and Mercedes talk to Magna about Mila 1 year ago on Autoblog

The Magna MILA Alpin concept car shown in Geneva has gotten the attention of both Mercedes and BMW. The button-cute 4-wheeler rode on a flexible platform, could utilize a variety of fuel sources, climb 45-degree angles, and get up to 120 mph. Those capabilities, and the ability to be easily ...

From Russia, With Love: Owner of GAZ buys 5% of GM 2 years ago on Autoblog

Okay, so maybe GAZ wasn't really interested in buying Land Rover and Jaguar from Ford, but that hasn't stopped Russian billionaire Oleg Deripaska from buying a big chunk of another U.S. automaker. Deripaska is the owner of GAZ and he just bought 5% of General Motors on the open market. Said to be ...

Magna's mortgage has been pre-approved, time to close the deal 2 years ago on Autoblog

Frank Stronach, founder and chairman of Magna International, has acknowledged that his company is definitely making a bid to take control of Chrysler and that they have the money lined up. Magna is partnering with Onex Corporation to make the bid based on $2 billion in cash reserves from Magna with ...

Could Magna buy Chrysler and put Bernhard at the helm? 2 years ago on Autoblog

Toronto, Ontario based Magna International is the third largest automotive supplier in the world with 2005 sales of $22.8 billion. They have had a long relationship with DaimlerChrylser both in North America and Europe including running an assembly plant in Graz, Austria that builds various ...






Autoblog Podcast #155: 'Twas the night before LA...

Chris, Dan, and Editor Paukert go over some LA Preview action and quietly whoop it up on the podcast.

 
 

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